Herbal Supplements Market
Herbal Supplements Market by Source (Leaves, Barks, Fruits & Vegetables, Roots), by Application (Pharmaceuticals, Food & Beverage, Personal Care), by Function (Medicinal, Aroma), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
The global Herbal Supplements market was valued at USD 70 Billion in 2020 and is projected to reach USD 124 Billion by 2028, growing at a CAGR of 6.5% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2021-2028|
|Annual Market Size (2028)||124 Billion|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||6.5%|
Definition And Overview
Herbal supplements are non-pharmaceutical, non-food substances marketed to improve health. Herbalism ( herbal medicine, botanical medicine) is the use of plant-derived substances, and sometimes other environmental substances, to treat or cure medical conditions.
This report provides an analysis of the Herbal Supplements market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers exhaustive analysis on the global Herbal Supplements industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. Moreover, it covers an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies.
The report includes a separate section covering detailed Herbal Supplements industry analysis based on various macro/micro factors impacting the growth of the market. This section explains various driving factors, restraints/challenges, and opportunities in detail. In addition to that, the same section provides industry analysis based on several strategic marketing tools such as Cost Structure Analysis, Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, Player Positioning Analysis, Downstream Buyers, List of distributors, and Value Chain Analysis among others.
Increasing consumer knowledge about precautionary health care measures coupled with herbal medicines awareness.
Rapid surge in aging population, increase in health supplements consumption, focus on healthy living, and increase in shift toward precautionary healthcare fuels the market
Strict regulatory policy for herbal supplements and small acceptance by the consumers limit the market growth of Herbal Supplements.
COVID-19 Impact Analysis
When the Covid19 pandemic started in China last year it sends its shock waves to countries across the globe. And as the number of cases was on the rise, it enforced the governments across the world to take severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the impending catastrophe. These actions had a dramatic impact on the economy, as the industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. Thus, plummeting the global markets. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long-term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Source, Application, Function|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||Archer Daniels Midland Company, Glanbia plc, Herbalife International of America, Inc., Blackmores, Nutraceutical International Corporation, NBTY, Inc., Arizona Natural Product, Ricola.|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis|
The report delivers an acute breakdown of the market based on various segments such as Source, Application, Function, and region. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecast, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.
On the basis of Source, the market is divided into Leaves, Barks, Fruits & Vegetables, Roots. Leaves held the largest share in 2020 and is projected to grow at a noteworthy CAGR within the forecast period.
Based on Application, the market is divided into Pharmaceuticals, Food & Beverage, Personal Care. Food & Beverage attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Herbal Supplements Market: Source Segment Analysis
- Fruits & Vegetables
Global Herbal Supplements Market: Application Segment Analysis
- Food & Beverage
- Personal Care
Global Herbal Supplements Market: Function Segment Analysis
Regional Analysis: Preview
Based on the geography, the global Herbal Supplements market is segmented into North America, Latin America, Asia
Pacific, Europe, and the Middle East & Africa. The report further segments
the regional study into key country-level markets from each region. This section
of the report provides a comprehensive review of the Herbal Supplements market at the regional and country level. The report covers all the major developments
specific to Herbal Supplements industry across
geographies and explains its impact on the market. The regional analysis
section also provides analysis of the impact of various factors such as
economies, industry competition, technological advancements, import-export
ratio, and raw material availability among others. The concentration of raw
material suppliers as well as market players in one specific region impacts the
global market scenario and the report covers exclusive information on the
same. Also, the report analyzes the
intensity of competition in each region and its influence on the growth of the
global Herbal Supplements market.
Market Size, 2021 (USD Billion)
Global Herbal Supplements Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
The global Herbal Supplements market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Herbal Supplements market are Archer Daniels Midland Company, Glanbia plc, Herbalife International of America, Inc., Blackmores, Nutraceutical International Corporation, NBTY, Inc., Arizona Natural Product, Ricola.. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report will also include extensive analysis on key strategies adopted by market players such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.
Frequently Asked Questions
the global demand for Herbal Supplements
in terms of revenue?
The global Herbal Supplements valued at 70 Billion in 2020 and is expected to reach 124 Billion in 2028 growing at a CAGR of 6.5%%
are the prominent players
in the market?
The prominent players in the market are Archer Daniels Midland Company, Glanbia plc, Herbalife International of America, Inc., Blackmores, Nutraceutical International Corporation, NBTY, Inc., Arizona Natural Product, Ricola..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 6.5%% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Herbal Supplements include
- Increasing consumer knowledge about precautionary health care measures coupled with herbal medicines awareness.
- Rapid surge in aging population, increase in health supplements consumption, focus on healthy living, and increase in shift toward precautionary healthcare fuels the market
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Herbal Supplements in 2020.